Question 1

is the major operating activity that increases cash.

Accepted Answer

A)  Sales on account 
B)  Advances from customers 
C)  Collections from sales to customers 
D)  Proceeds received from issuing stock 
A)  Sales on account 
B)  Advances from customers 
C)  Collections from sales to customers 
D)  Proceeds received from issuing stock

Question 2

A company's inventory method affects its income statement and balance sheet.

Accepted Answer

A) True 
 B)False

Question 3

is the best definition of goodwill.

Accepted Answer

A)  The excess of the cost of an acquired company over the sum of the fair market value of its identifiable individual assets less the liabilities 
B)  The charitable contributions, in both time and money, which a corporation contributes to society as a whole 
C)  The value of a company's reputation for such things as service, quality, and product reliability 
D)  Actions taken by companies that are for the best interest of society but have a detrimental effect on the company's short- run financial results 
A)  The excess of the cost of an acquired company over the sum of the fair market value of its identifiable individual assets less the liabilities 
B)  The charitable contributions, in both time and money, which a corporation contributes to society as a whole 
C)  The value of a company's reputation for such things as service, quality, and product reliability 
D)  Actions taken by companies that are for the best interest of society but have a detrimental effect on the company's short- run financial results

Question 4

When reconciling net income to net cash provided by operating activities, a(n) _ is an addition to net income.

Accepted Answer

A)  increase in wages payable 
B)  increase in accounts receivable 
C)  increase in inventories 
D)  All of these answers are correct. 
A)  increase in wages payable 
B)  increase in accounts receivable 
C)  increase in inventories 
D)  All of these answers are correct.

Question 5

Separately identifiable additions to a LIFO inventory

Accepted Answer

LIFO layer

Question 6

Short- term debts backed by formal promissory notes held by a bank or business creditors

Accepted Answer

The answer of Short- term debts backed by formal promissory...

Question 7

Depreciation method that allocates more of an asset's cost to the early years and less to the later years

Accepted Answer

The answer of Depreciation method that allocates more of an...

is the major operating activity that increases cash.

A company's inventory method affects its income statement and balance sheet.

is the best definition of goodwill.

When reconciling net income to net cash provided by operating activities, a(n) _ is an addition to net income.

Separately identifiable additions to a LIFO inventory

Short- term debts backed by formal promissory notes held by a bank or business creditors

Depreciation method that allocates more of an asset's cost to the early years and less to the later years

Managerial Accounting and the Business Organization

Introduction to Cost Behavior and Cost Volume Relationships

Measurement of Cost Behavior

Cost Management Systems and Activity-Based Costing

Relevant Information and Decision-Making: Marketing Decisions

Relevant Information and Decision-Making: Product Decisions

The Master Budget

Flexible Budget and Variance Analysis

Management Control Systems and Responsibility Accounting

Management Control in Decentralized Organizations

Capital Budgeting

Cost Allocation

Job-Costing

Process-Costing Systems

Overhead Application: Variable and Absorbtion Costing

Understanding Corporate Annual Reports: Basic Financial Statements

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Exam 16: Basic Accounting Concepts, Techniques, and Conventions

is the major operating activity that increases cash.

A company's inventory method affects its income statement and balance sheet.

is the best definition of goodwill.

When reconciling net income to net cash provided by operating activities, a(n) _ is an addition to net income.

Separately identifiable additions to a LIFO inventory

Short- term debts backed by formal promissory notes held by a bank or business creditors

Depreciation method that allocates more of an asset's cost to the early years and less to the later years

Managerial Accounting and the Business Organization

Introduction to Cost Behavior and Cost Volume Relationships

Measurement of Cost Behavior

Cost Management Systems and Activity-Based Costing

Relevant Information and Decision-Making: Marketing Decisions

Relevant Information and Decision-Making: Product Decisions

The Master Budget

Flexible Budget and Variance Analysis

Management Control Systems and Responsibility Accounting

Management Control in Decentralized Organizations

Capital Budgeting

Cost Allocation

Job-Costing

Process-Costing Systems

Overhead Application: Variable and Absorbtion Costing

Understanding Corporate Annual Reports: Basic Financial Statements

Filters